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Expected growth in non-OPEC production reduces the call on OPEC crude required to balance the market (6/11/2014)

On June 11, the Organization of the Petroleum Exporting Countries (OPEC) reaffirmed the group’s crude oil production target of 30 million barrels per day (bbl/d) that has been in place since December 2011. This target is slightly above the 29.8-million-bbl/d call on OPEC crude oil and global stocks during 2014 presented in the June Short-Term Energy Outlook (Figure 1). …

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Expected growth in non-OPEC production reduces the call on OPEC crude required to balance the market (6/11/2014)

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